These hardships are needless – Minority insists on protesting on Sept 5

The Minority in Parliament has insisted on embarking on a protest to demand the resignation of the governor of the Bank of Ghana and his deputies.

The Minority leader, Cassiel Ato Forson, stated that the country’s economic problems are a result of the mismanagement of the governor.

Even though the Bank of Ghana earlier noted that the GH¢60.8 billion losses recorded did not make the institution insolvent, Ato Forson is of the belief that the Bank of Ghana is in major financial distress and bankrupt; and requires urgent attention.

Speaking at a public forum on the #OccupyBoG protest he said “In 2022, under the governorship of Dr Addison and his deputies, the Bank of Ghana recorded a colossal loss of over GH¢60.8 billion and negative equity of over GH¢55.1 billion. That explains why Paragraph 18 of the Memorandum of Economic and Financial Policy (MEFP) stated that: 'The Government and the BoG will assess the impact of the debt restructuring on the BoG’s balance sheet and develop plans for its recapitalization'.”

“In its present form, the Bank of Ghana exists merely in name under the leadership of Governor Addison and his deputies; we are talking about a central bank that has been so mismanaged that it has recorded an unprecedented loss,” he added.

He stated that the protest would still happen on September 5, 2023.

SSD/NOQ

Click here to start the nomination process for the 2023 GhanaWeb Excellence Awards

Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.

Watch the latest edition of BizTech and BizHeadlines below: